Builder Arrested For Cheating Flat Buyers Of Rs 1.72 Crore In Bhubaneswar
Builder Arrested For Cheating Flat Buyers Of Rs 1.72 Crore In Bhubaneswar
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Bhubaneswar: On Saturday, the Economic Offences Wing (EOW) detained a builder for allegedly defrauding numerous individuals of Rs 1.72 crore under the guise of providing homes in Sijua, Bhubaneswar, police said.
Manoj Pattnaik, MD of Basera Designs Pvt Ltd, has been identified as the culprit.
According to sources, a case was launched against Patnaik and three others on the basis of a complaint filed by one Jyoti Shankar Panda for scamming to the tune of Rs 1,15,82,550 to many others under the guise of supplying flats in their Project "Basera Fresco."
During the investigation, it was discovered that Panda and his brother Subha Shankar Panda had reserved a 3BHK flat at Sijua's 'Basera Fresco' for Rs 41,50,000.
As a result, a 'Agreement for Acquisition of Ownership in Apartment' was signed in 2016 with Pattnaik, and the complaint was assigned a property with the condition that it be handed over by June 30, 2017.
However, the builder and other individuals neither gave over the flat to Panda nor returned the money he had received from him. The defendants also failed to renew the BDA approval, which should have been done after three years. After defrauding so many investors, the accused closed their office in Palasuni, Bhubaneswar, and fled.
During the investigation, the arrested culprit, along with his wife Suchitra Bisoi, another director, and others, defrauded many other unsuspecting investors by promising them an apartment in their project "Basera Fresco" in Sijua for Rs 1.72 crore.
Previously, one accused in the case was arrested and brought to court. In the case, many damning documents pertaining to the scam, including some fake documents, have been recovered.
